Okta vs Zscaler
Okta and Zscaler are similar in size: $2.92bn and $3.35bn of revenue in their latest fiscal years. Zscaler grew faster (25.4% against 11.8%). Okta kept more of each dollar of sales as profit: a net margin of 8.1% against -1.9%.
| Latest fiscal year | OktaOKTA, 2026 | ZscalerZS, 2026 |
|---|---|---|
| Revenue | $2.92bn | $3.35bn |
| Revenue growth | 11.8% | 25.4% |
| Net income | $235m | −$63.2m |
| Operating margin | 5.1% | — |
| Net margin | 8.1% | -1.9% |
| Return on equity | 3.5% | -2.9% |
| Free cash flow | $875m | $852m |
| Cash | $858m | $928m |
| Total debt | — | $1.70bn |
| Debt to equity | — | — |
| Dividend per share | — | — |
| Dividend yield | — | — |
| Share buybacks | $73.0m | — |
| Employees | 6,366 | 8,700 |
| Market value | $33.07bn | $36.87bn |
| Price vs our value range | Above our value range | Above our value range |
| Moat score | 39 (Weak) | 50 (Moderate) |
| Insider trades, 12 months | 2 buys, 86 sales | 0 buys, 74 sales |